Welcome to our dedicated page for Saia news (Ticker: SAIA), a resource for investors and traders seeking the latest updates and insights on Saia stock.
Saia, Inc. (NASDAQ: SAIA) is a prominent American trucking and logistics company headquartered in Johns Creek, Georgia. The company is renowned for its extensive range of less-than-truckload (LTL), non-asset truckload, expedited, and logistics services. Saia LTL Freight operates 169 terminals across 44 states and employs over 11,000 people nationwide. The company ranks among the top 10 largest LTL carriers in the United States, managing more than 200 facilities and a fleet comprising over 6,200 tractors and 20,800 trailers.
Core Services and Operations:
- Less-Than-Truckload (LTL): Specializing in shipments ranging from 100 to 10,000 pounds, Saia offers time-definite and expedited options to meet diverse customer needs.
- Non-Asset Truckload: Providing flexible and scalable solutions for larger freight needs without owning the asset, which enhances operational efficiency and cost-effectiveness.
- Expedited Services: Ensuring timely deliveries with expedited shipping options for critical freight.
- Logistics Services: Comprehensive logistics solutions that streamline supply chain processes and improve operational performance.
Saia's commitment to safety has earned it recognition from the American Trucking Associations Safety Management Council for its outstanding safety record. This accolade underscores the company’s dedication to maintaining high safety standards, which is integral to its operations and service delivery.
Recent Achievements and Current Projects:
- Expansion in Pennsylvania with a new facility, increasing the total number of state facilities to seven, enhancing service coverage and operational capacity.
Financial Performance: Saia consistently ranks among the top-tier LTL carriers in terms of profitability. The company’s strong financial position is evidenced by its quarterly performance, with detailed comparisons available in its financial releases.
For more information on Saia, Inc., visit saia.com.
Saia Inc. (NASDAQ: SAIA) announced the addition of 78 next-day service lanes, now totaling 435 across the Northeast and Mid-Atlantic markets. Key locations include Albany, Newark, and Boston, improving delivery times for customers by one day. Executive Vice President Ray Ramu emphasized the company's commitment to enhancing customer service, facilitated by network optimization and recent terminal openings. Since 2017, Saia has established 42 new terminals, enhancing its operational proximity to clients. Saia’s diverse services include less-than-truckload and logistics solutions, supported by a strong safety record and environmental efforts.
Saia Inc. (NASDAQ: SAIA) has expanded its operations by opening new terminals in Morgantown and Princeton, West Virginia, bringing its total to 190 terminals nationwide. This expansion is part of Saia's strategy to enhance customer service and improve supply chain efficiency through increased shipping points and reduced transit times. Additionally, Saia's human resources team is actively recruiting for these new locations. Earlier in February, another large facility was opened near Kansas City, with more openings planned in Muncie, Indiana, and north of Atlanta, Georgia. The company remains committed to meeting rising demand and improving operational capabilities.
Saia Inc. (NASDAQ: SAIA) has announced the opening of a new terminal in Edwardsville, Kansas, enhancing its operational capacity in the Kansas City area. This facility, named 'Kansas City West' (KCW), features nearly 140 doors and aims to improve service delivery by providing additional capacity and flexibility. Saia's ongoing strategy includes investing in key locations like Kansas City, a critical freight hub in the Midwest, to better serve customers. The terminal is actively hiring for various positions, including dockworkers and mechanics. Saia operates 188 terminals nationwide and employs over 12,000 people.
Saia, Inc. (NASDAQ: SAIA) announced on February 6, 2023, the closing of a new unsecured revolving credit facility worth $300 million, with an additional $150 million accordion feature. This facility replaces an existing secured credit arrangement set to mature in February 2024. The new credit agreement, formed with JPMorgan Chase Bank, enhances capital access without collateral and extends the maturity to February 2028, offering more favorable borrowing costs. Saia's CFO, Douglas Col, highlighted the positive financial implications and future growth flexibility this agreement supports.
Saia, Inc. (Nasdaq: SAIA) announced its fourth quarter 2022 results, reporting revenue of $655.7 million, a 6.3% increase year-over-year. However, diluted earnings per share decreased to $2.65 from $2.76 in Q4 2021. Operating income fell 4.8% to $92.7 million, leading to an operating ratio of 85.9%. Full-year revenue reached $2.8 billion, a 22.0% increase, with operating income up 40.4% to $470.5 million. Saia expanded its terminal network significantly, and plans five new openings in 2023. The company ended 2022 with $187.4 million cash and low debt levels, positioning itself well for future investments.
Saia, Inc. (Nasdaq: SAIA), a prominent transportation provider, will announce its quarterly financial results on February 3, 2023, before market opening. The management will host a conference call at 11:00 a.m. ET to discuss the outcomes. Interested participants can dial in at designated numbers or join the live webcast available on their investor relations page. The replay of the call will be accessible for a month, ensuring stakeholders can review the details.
Saia, Inc. (NASDAQ: SAIA) has reported a decline in LTL shipment and tonnage data for October and November 2022. In October, LTL shipments per workday dropped by 4.4%, while LTL tonnage fell by 3.0%. The average weight per shipment did, however, increase to 1,445 pounds, up 1.4% from October 2021. By November 29, the trend continued with an 8.6% decline in shipments and a 7.7% decline in tonnage. Despite the positive shift in shipment weight, these declines may indicate potential challenges for the company ahead.
Saia, Inc. (NASDAQ: SAIA) announced its annual scholarship program, awarding $75,000 to 20 students, bringing the total to $502,000 for 273 students since the program started. Ten students received $5,000 scholarships, and ten received $2,500 each. The scholarships are based on academic achievements, community service, and leadership capabilities. This initiative reflects Saia's core values and supports employees and their families pursuing higher education.
Saia, Inc. (Nasdaq: SAIA) announced a delay in its earnings call due to a technical issue with the GlobalMeet conference call platform. The call will now take place on November 1, 2022, at 8:00 AM Eastern Time. Participants can join by calling 786-697-3501 or 866-580-3963, referencing the "Third Quarter 2022 Earnings Call." The call will be webcast live and available for replay until November 25, 2022. Saia provides a variety of transportation services across 187 terminals in 45 states.
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